「Title: YSN Radio

‘Baek Seong-In’s Breaking Through News’

■ Channel: FM 99.1 (18:10 ~ 20:00)

■ Date: July 12th, 2018 (Thursday)

■ Guest: Lee Soo-Il, Professor at Seongju University

◇ Baek Seong-In (host, commentator, news reader)> Today, we will discuss the overall problems, starting with the item trading market. Professor Lee Soo-Il at Seongju University is on the connection. Good evening, Professor.

◆ Lee Soo-Il> Hello.

◇ Baek Seong-In> The very first S-class auction was held yesterday, and Xi Wangmu's Ten Thousand Year Old Spider Egg was sold at an astronomical winning bid of over ten billion dollars. I can’t even imagine how large ten billion dollars is!

◆ Lee Soo-Il> That is true. The exchange rate was 1056.30 won yesterday, so that’s equivalent to ten trillion, fifty-six billion Korean won. Let’s use the stock market as an example. The total market value of Daehyun Motor is thirty trillion won, so ten trillion could buy thirty percent of the stocks of Daehyun Motor.

◇ Baek Seong-In> Wow.

◆ Lee Soo-Il> Everyone here likes smartphones, right? The most expensive one among Berry’s A phone costs 1.5 million won including VAT, so with ten trillion won we could provide them to 6.66 million people for free. Also, we could even pay the tuition for every single college student in Korea for one term with ten trillion won.

◇ Baek Seong-In> That is unbelievable, but there have been two more S-class item auctions since then. The second one was sold at four billion dollars, which was forty percent of the initial winning price, and the third one was sold at three billion dollars. It is understandable that the first transaction was bound to be fierce, but three billion dollars is indeed an astronomical amount as well.

◆ Lee Soo-Il> When considering the entirety of the situation, there is so much to discuss. Yet, upon closer examination, it becomes apparent that it is merely a fragment of the actual economy, which operates on the principle that as demand increases and supply decreases, prices rise.

◇ Baek Seong-In> Yeah,...